Guangzhou Pharmaceutical Holdings Ltd., a prominent player in China’s pharmaceutical sector, has inked a strategic letter of intent with BioCubaFarma, Cuba’s foremost state-owned pharmaceutical juggernaut, to embark on a joint venture in research and development (R&D), manufacturing, and commercialization of avant-garde pharmaceutical products within the Chinese market, with a spotlight on biologics. This landmark agreement encompasses technological and personnel exchanges, fostering a symbiotic relationship between the two entities.
The alliance is a cornerstone in Guangzhou Pharma’s strategic pivot from generic drugs to higher-value innovative pharmaceuticals, aligning with its ambitious sales target of RMB 150 billion (approximately USD 24.53 billion) by the year 2020. As per the accord, the duo will forge a biologic R&D platform, expediting the entry of a suite of high-tech innovative biologics and biosimilars from BioCubaFarma into the Chinese pharmaceutical arena.
In this mutually beneficial collaboration, BioCubaFarma anticipates reaping the rewards of technological cross-pollination and enhanced industrialization, underlining the deal’s significance in bolstering the Cuban firm’s global footprint.
